Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 4 February 2025 to Written Question 26880 on Mortgages, whether her Department makes an assessment of the potential impact of fiscal policies on mortgage rates as part of their decision making.

The government considers the potential impact of fiscal policy on a range of factors, including the potential impact on interest rates.

The pricing and availability of mortgages is ultimately a commercial decision for lenders, in which the government does not intervene. Changes in offered mortgage rates are broadly driven by changes in financial market expectations for Bank Rate.

Monetary policy, including decisions on Bank Rate, is the responsibility of the independent Monetary Policy Committee (MPC) at the Bank of England. The government remains committed to supporting the MPC to return inflation to target sustainably and does not comment on the conduct or effectiveness of monetary policy.